The statements made in the Outlook chapter are based on the operational planning of Daimler AG as approved by the Board of Management and the Supervisory Board. That planning is based on the premises we set regarding the economic situation and the development of automotive markets. It involves assessments made by Daimler, which are based on analyses by various renowned economic research institutes, international organizations and industry associations, as well as on the internal market analyses of our sales companies. The prospects for our future business development as presented here reflect the targets of our divisions as well as the opportunities and risks presented by the anticipated market conditions and the competitive situation during the planning period. Against this backdrop, we adjust our expectations for business development to reflect updated forecasts for the development of the various automotive markets. The statements made below are based on the facts known to us at the beginning of 2020.
Our assessments for the year 2020 are based on the assumption of generally stable economic conditions and the expectation that the upward development of the global economy will continue at a moderate pace. We also assume that worldwide demand for automobiles will be approximately of the magnitude of the previous year. The development we have outlined is subject to various opportunities and risks, which are explained in detail in the »Risk and Opportunity Report«.